Needham & Company LLC Lowers Euronet Worldwide (NASDAQ:EEFT) Price Target to $120.00

Euronet Worldwide (NASDAQ:EEFT) had its target price reduced by Needham & Company LLC from $125.00 to $120.00 in a research report report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the business services provider’s stock.

Other equities analysts have also issued reports about the company. Monness Crespi & Hardt upped their target price on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Citigroup downgraded shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their target price for the company from $118.00 to $110.00 in a research note on Friday, October 18th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. DA Davidson restated a “buy” rating and set a $136.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 8th. Finally, Oppenheimer began coverage on shares of Euronet Worldwide in a report on Tuesday, October 1st. They set an “outperform” rating and a $121.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.38.

Euronet Worldwide Stock Performance

EEFT stock opened at $100.50 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.51 billion, a PE ratio of 17.45 and a beta of 1.46. The business has a 50 day moving average of $100.42 and a 200-day moving average of $104.21. Euronet Worldwide has a 12-month low of $75.41 and a 12-month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a return on equity of 27.81% and a net margin of 7.46%. During the same quarter in the prior year, the company earned $2.53 EPS. As a group, sell-side analysts expect that Euronet Worldwide will post 7.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Thomas A. Mcdonnell acquired 3,206 shares of Euronet Worldwide stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $93.86 per share, with a total value of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas A. Mcdonnell acquired 3,206 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $8,447,400. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the sale, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Euronet Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of EEFT. Lazard Asset Management LLC grew its stake in shares of Euronet Worldwide by 6,250.4% in the first quarter. Lazard Asset Management LLC now owns 141,932 shares of the business services provider’s stock worth $15,602,000 after purchasing an additional 139,697 shares during the last quarter. Kodai Capital Management LP grew its position in shares of Euronet Worldwide by 57.9% in the 1st quarter. Kodai Capital Management LP now owns 369,209 shares of the business services provider’s stock worth $40,587,000 after buying an additional 135,416 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Euronet Worldwide by 17.7% during the second quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider’s stock valued at $78,172,000 after buying an additional 113,685 shares during the period. New South Capital Management Inc. raised its holdings in shares of Euronet Worldwide by 21.8% during the first quarter. New South Capital Management Inc. now owns 538,419 shares of the business services provider’s stock valued at $59,188,000 after acquiring an additional 96,278 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Euronet Worldwide in the second quarter worth $9,047,000. 91.60% of the stock is owned by institutional investors.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.